ProTek Capital Inc (PRPM)

[Kool Aid Man]

Bitcoin biggest bubble in history, says economist who predicted 2008 crash

Nouriel Roubini calls cryptocurrency the ‘mother of all bubbles’ as it falls below $8,000.

The economist credited with predicting the 2008 global financial crisis said a 12% fall in the value of bitcoin on Friday was the latest proof that the cryptocurrency was the biggest bubble in history and destined for a crash.

Nouriel Roubini, professor of economics at New York University, said bitcoin was “the mother of all bubbles” favoured by “charlatans and swindlers” as it fell below $8,000 (£5,600) early on Friday, marking a 30% drop since the beginning of the week as investors became increasingly twitchy about a clampdown on cryptocurrencies by regulators. Later it rallied, climbing back over $8,600 by 3pm (GMT).

Bitcoin has lost more than half its value since hitting a peak of near $20,000 in the week before Christmas. Dubbed “Dr Doom”, Roubini said the sharp fall was the beginning of a crash that would see the value of the digital currency plummet “all the way down to zero.

More......

https://www.theguardian.com/technology/2018/feb/02/bitcoin-biggest-bubble-in-history-says-economist-who-predicted-2008-crash

WALL STREET JOURNAL also reports
https://www.wsj.com/articles/bitcoin-is-falling-fast-losing-more-than-half-its-value-in-six-weeks-1517556514